Tokio Marine nearly doubles its FY’24 net income

It saw its assets reach $200b.

Tokio Marine Holdings saw its fiscal year ended 31 March 2024 (FY’24) to $4.3b (¥671.3b) versus the $2.2b (¥346.7b) the previous year, driven by growths seen in income-generating businesses.

Ordinary income or revenue rose by $5.2b (¥814.6b) to $47b (¥7.42t), driven by underwriting income of $38b (¥6.0t) and Investment income of $8.3b (¥1.3t).

Net income attributable to owners of the parent increased by $2.1b (¥321.2b) to $4.5b (¥695.8b).

ALSO READ: Reinsurance risks increase at Tokio Marine Indonesia

Consolidated total assets as of 31 March, reached $200b (¥30.6t), up $20b (¥3.2t) from the previous year.

The company projects fiscal year 2024 to include $7.7b (¥1.2t) for ordinary profit and $5.6b (¥870.0b) for net income attributable to owners of the parent.

The company plans to adopt IFRS from fiscal year 2025 to enhance financial comparability internationally and unify accounting policies within the Group.

($1.00 = (¥156.16)

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